Social security is easily fixed. Just remove the salary cap. That would bring in so much money that the percentage we pay could be cut. That is a tax cut for the low and middle class. Think about it.
Deficits are solved w/ 4-5% inflation for a decade - which is likely what we'll see once we get past the disinflation of the global recession forthcoming in 2023.
I have to think they think CBDC's are at least a partial remedy for growing debts and the limits of a bank credit based money system. I suspect they will go for full legal tender of central bank liabilities with or without merging the Fed into Treasury.
Thanks for articulating the headwinds we face regarding sovereign debt. Luke Groman is all over this and your thoughts are in sync. Our debt to GDP is way too high and yet we keep running massive deficits. We can't afford sustained high interest rates on our debt. 2023 will be a very interesting year.
Social security is easily fixed. Just remove the salary cap. That would bring in so much money that the percentage we pay could be cut. That is a tax cut for the low and middle class. Think about it.
Deficits are solved w/ 4-5% inflation for a decade - which is likely what we'll see once we get past the disinflation of the global recession forthcoming in 2023.
Keep up the good work David, and have a Happy Thanksgiving with your family.
Great read, sincerely appreciated. Wishing you and your team a Happy Thanksgiving.
I have to think they think CBDC's are at least a partial remedy for growing debts and the limits of a bank credit based money system. I suspect they will go for full legal tender of central bank liabilities with or without merging the Fed into Treasury.
Thanks for articulating the headwinds we face regarding sovereign debt. Luke Groman is all over this and your thoughts are in sync. Our debt to GDP is way too high and yet we keep running massive deficits. We can't afford sustained high interest rates on our debt. 2023 will be a very interesting year.